Construction Equipment Market: Key Highlights
Construction Equipment Market: Key Market Dynamics
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Construction Equipment Market: Regional Overview
The growth in the Asia-Pacific region is attributed to the increasing industrial production and increasing commercial and residential development. The increasing emission regulations have led to advancements in construction equipment for using hybrid and electric equipment in this region. Furthermore, increasing government investment in infrastructure activities has boosted the market growth. According to India Brand Equity Foundation (IBEF), the government of India announced its plans to spend USD 1.4 trillion on infrastructural development in Union Budget 2019-2020.
In Europe, the increasing investment in technological advancements in construction equipment and the growing construction projects is boosting the demand for construction equipment market growth. Prominent countries such as Italy, France, and Germany have witnessed the highest construction projects such as underwater tunnels, port extension, railway tunnels, and others which is directly increasing the number of construction equipment needed.
Construction Equipment Market: Key Players Overview
AB Volvo manufacturers engines, buses, trucks, and construction equipment. It also provides financial services. In March 2019, Volvo Construction Equipment (Volvo CE) has acquired CeDe Group that manufactures special applications and machines. This acquisition will provide in-depth engineering in modifying Volvo CE machines for specialized applications.
Komatsu Ltd. manufactures construction, forestry, industrial and mining machinery, including bulldozers, excavators, and wheel loaders. In July 2018, the company launch new EX-7 series mining excavators. This machine will help customers to optimize the production, safety, and efficiency of their operations by connecting to online servers which can collect valuable data and turn it into actionable insights.
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